The FDIC came to the same conclusion as consumer advocates including NCRC: TAB Bank committed unfair or deceptive acts or practices that harmed customers.
TAB Bank, Facilitator Of Predatory Puppy Loans, Gets Rating Downgraded By FDIC Read More »
Banks help other lenders get around state laws to facilitate abusive puppy mills and trap pet owners in predatory loans. Federal regulators can put a stop to it.
Lend Us a Paw: Ask the FDIC to Close the Rent-a-Bank Loophole Read More »
With a new chairman taking the helm of the Federal Deposit Insurance Corporation (FDIC), the National Community Reinvestment Coalition (NCRC) joined with more than a dozen other organizations in calling for the FDIC to “stop permitting its supervised institutions to front for predatory lenders evading state interest rate limits.”
In a final rule issued Tuesday, the Office of the Comptroller of the Currency sanctioned high-cost lending arrangements between state-licensed non-banks and national banks. As a result, payday lenders and others charging triple-digit interest rates will be able to conduct business in states where high-cost lending is prohibited by state law.
OCC’s new True Lender rule opens the door to more abusive lending Read More »
Washington, DC — Today, the National Community Reinvestment Coalition (NCRC) applauded the passage of a local responsible banking ordinance in San Diego, California. “Local governments across the nation are continuing to pass measures to induce banks to invest in our communities in a responsible way,” said NCRC President and CEO John Taylor. “This is
NCRC Applauds Passage of San Diego Responsible Banking Ordinance Read More »
Since the last review of the Home Ownership and Equity Protection Act (HOEPA) by the Federal Reserve Board, the home mortgage market has changed considerably. Subprime lending has become a dominant force, unregulated mortgage brokers now originate a large part of the mortgages, and exotic mortgages with exploding interest rates have become a common occurrence.
Anti-Predatory Lending and Sustainable Homeownership Read More »
